Business entities in Belize

Most of our Clients are interested to register an international company with the International Business Center of Belize. Such entities, legally tax exempt in Belize, are usually used as international trading vehicles. Alternatively, Belize has also become popular for holding assets through an offshore trust or an international foundation and is also increasingly used as an manufacturing and re-export hub to overseas markets. Please read the page below for further information available on the different types of business entities available in Belize, and their best uses.

Doing business outside of Belize with a local entity

The Belize offshore company (Belize IBC company)

Belize international business companies (IBCs) can be registered with i) one shareholder ii) one director and iii) a minimum share capital of US$1. Neither the director(s) nor the shareholder(s) are required to be resident in Belize, although the International Business Center will require appointment of one registered agent;

A Belize IBC is legally exempt from all taxes in Belize but can only trade with customers residing outside of Belize. Such entity is required to prepare financial statements but not to file them with the IBC Registrar and there is also no public records of shareholders and directors;

Best uses for a Belize international business company: a Belize IBC is a good entity for trading. It can also be used as a holding vehicle, although it does not have access to double taxation avoidance treaties.

The Belize international pass through company (Belize international LLC)

The Belize pass through company is an entity similar to the United States limited liability company. Similarly to a partnership, it is not counted as a separate legal entity for tax, so all earning are directly deemed as distributed to its member(s). Unlike a partnership, the none of the members are however required to be fully liable for the LLC’s losses and debt;

Apart from the above, the registration requirements of a Belize international LLC are similar to those of a Belize IBC;

Best uses for a Belize international limited liability company: This entity is a good vehicle to sign contracts and offer professional services to international customers.

Doing business inside of Belize with a local or foreign entity

The Belize limited liability company (Belize 250 Company)

Foreigners willing to do business with Belizean residents can register a local company, which only requires i) one shareholder ii) one director and iii) only US$1 of paid up capital. There is no need to appoint resident directors, although a local registered agent will be required. Foreign shareholders are required to go through an approval process with the Belize Central Bank;

After business setup, the company is required to file financial statements with the tax authority and is subject to corporate tax at a standard rate of 25%;

Best uses for a Belize limited liability company: This entity is a good vehicle to sign contracts and trade with local customers.

The Belize free zone company (EPZ company)

Foreigners can register their 250 companies in the export processing zones of Belize. The benefits of doing so include i) exemption from custom duties ii) up to 20 years of corporate income tax holidays iii) exemption from GST iv) waiver from restrictions on the opening of foreign currency corporate bank accounts;

Export processing zone registration is only allowed to export oriented businesses running manufacturing and processing activities. Requirements also include minimum of 60% of the value added of the products to be added locally. See this page for further information on export processing zone registration requirements;

Best uses for a Belize free zone company: Belize free zone companies are usually conducting repackaging or light manufacturing activities for products then re-exported in Mexico, the United States, Canada and other American markets.

The Belize limited partnership (Belize LP)

The Belize limited partnership consists of general partners, amongst whom at least one must be resident in Belize, and limited partners, who can all be foreigners. General partners’ approval is required for all business activities of the partnership;

Best uses for a Belize limited partnership: while we will assist our Clients to register a Belize LP if required, Healy Consultants recommends to use Belize IBCs or Belize (international) LLCs for most trading and holding activities.

The Belize branch of a foreign company (branch office)

Foreign corporations can register a branch of their company in Belize. The same will require appointment of a resident representative, who can be a foreigner but then must hold a work permit. If needed, Healy Consultants can provide nominee services for professional passive resident representatives;

Best use for a Belize branch office: the main advantage of registering a Belize branch compared to a subsidiary is the ability to prepare consolidated accounts. Otherwise, it is usually better to opt for registration of a subsidiary.

The Belize representative office of a foreign company (liaison office)

Similar to a branch office, registration of a representative in Belize will require appointment of a resident representative, who can be a foreigner but then must hold a work permit. If needed, Healy Consultants can provide nominee services for professional passive resident representatives;

Best use for a Belize branch office: the main advantage of registering a Belize branch compared to a subsidiary is the ability to prepare consolidated accounts. Otherwise, it is usually better to opt for registration of a subsidiary.

Holding global assets with a Belize local entity

The Belize offshore trust (Belize international trust)

Foreigners can register offshore trusts in Belize if all assets, settlors and beneficiaries must all be nonresidents, while one of the trustees must be a licensed trustee services provider in Belize;

Best uses for a Belize trust: Belize offshore trusts are attractive for family wealth management and asset protection. They are also commonly used as special purpose vehicles for investment activities in the Americas.

The identities of the foundation founders, council members and beneficiaries are not publicly disclosed;

Best uses for a Belize: a Belize foundation is a good vehicle for wealth management. Contact us for further advice re the ability to use such entity to legally reduce personal or corporate taxation of a high net worth family.

Contact us

Testimonial

“Pirster Pte is happy with the work that Healy Consultants undertook for the company. International incorporation can be fraught with opacity, anxiety and vulnerability - especially if it is being done remotely as we did. Healy Consultants worked really hard to make it transparent, straight forward and confidence-inspiring. I look forward to working with Healey Consultants again on future work and happily recommend them to others.”

Fiona Thompson, Managing Director Pirster Pte.

“We had taken Healy Consultants assistance in incorporating our entities in some of the complicated jurisdictions. Their approach right from the beginning has been very systematic, clear and efficient. It has been a pleasure to work with all of them.”

“Thank you Healy Consultants for swiftly project managing my engagement. From the moment I met you in Singapore Healy Consultants attended to my requirements and specific needs. I am more than satisfied with your service. Moreover, your weekly updates allowed me to continue to focus my attention on my global business while trusting you to deliver as promised.”

“Thank you Healy Consultants, you were instrumental in setting up of my Hong Kong based company, the whole process was completed in a professional and timely manner.”

Terry Skews, CEO Brittany Offshore Limited

“Healy Consultants, a professionally managed firm with clear understanding and knowledge about what client expects from them and delivers the same in a professional and timely manner. Kudos to their team.”

“Incorporating any company is comparable to setting the foundation blocks of your new company building, which you aim to build in the best location available. By choosing Healy Consultants you are laying the perfect foundations.”

“The one word that defines Healy Consultants is perfect professionalism. If you have Healy to set up your business abroad, you could focus on the operational overhead and let Healy take care of the rest. From Incorporation to Taxation, it’s a one stop solution. Rest assured, you will have the best people in the Industry working for you and providing you with the best possible information and suggestions.”

Raja Chakraborty, Director Streamlyn Pte. Ltd.

“Thank you Healy Consultants for successfully project managing our business set up in Kuwait, Lebanon, Qatar and Bahrain.”

“When it was time to establish a Space Academy in Singapore, TriVector needed a knowledgeable firm that could not only help us establish our infrastructure, but could also advise on the local and regional business climate. Healy was that firm, which is why we've been satisfied Healy Consultants for almost five years now.”

“Healy Consultants were instrumental in the set up of our company. They have continued to provide exceptional support and advice over the years.”

Susan Gunnery, Managing Director Qudoss Group

“Healy Consultants is the best firm that we have ever worked with. Through our entire business relationship we were satisfied with provided level of quality and services. Healy Consultants have been responsive and detail oriented which has allowed us to stay focused on our business and not getting distracted with small details.”

Testimonial

“Pirster Pte is happy with the work that Healy Consultants undertook for the company. International incorporation can be fraught with opacity, anxiety and vulnerability - especially if it is being done remotely as we did. Healy Consultants worked really hard to make it transparent, straight forward and confidence-inspiring. I look forward to working with Healey Consultants again on future work and happily recommend them to others.”

Fiona Thompson, Managing Director Pirster Pte.

“We had taken Healy Consultants assistance in incorporating our entities in some of the complicated jurisdictions. Their approach right from the beginning has been very systematic, clear and efficient. It has been a pleasure to work with all of them.”

“Thank you Healy Consultants for swiftly project managing my engagement. From the moment I met you in Singapore Healy Consultants attended to my requirements and specific needs. I am more than satisfied with your service. Moreover, your weekly updates allowed me to continue to focus my attention on my global business while trusting you to deliver as promised.”

“Thank you Healy Consultants, you were instrumental in setting up of my Hong Kong based company, the whole process was completed in a professional and timely manner.”

Terry Skews, CEO Brittany Offshore Limited

“Healy Consultants, a professionally managed firm with clear understanding and knowledge about what client expects from them and delivers the same in a professional and timely manner. Kudos to their team.”

“Incorporating any company is comparable to setting the foundation blocks of your new company building, which you aim to build in the best location available. By choosing Healy Consultants you are laying the perfect foundations.”

“The one word that defines Healy Consultants is perfect professionalism. If you have Healy to set up your business abroad, you could focus on the operational overhead and let Healy take care of the rest. From Incorporation to Taxation, it’s a one stop solution. Rest assured, you will have the best people in the Industry working for you and providing you with the best possible information and suggestions.”

Raja Chakraborty, Director Streamlyn Pte. Ltd.

“Thank you Healy Consultants for successfully project managing our business set up in Kuwait, Lebanon, Qatar and Bahrain.”

“When it was time to establish a Space Academy in Singapore, TriVector needed a knowledgeable firm that could not only help us establish our infrastructure, but could also advise on the local and regional business climate. Healy was that firm, which is why we've been satisfied Healy Consultants for almost five years now.”

“Healy Consultants were instrumental in the set up of our company. They have continued to provide exceptional support and advice over the years.”

Susan Gunnery, Managing Director Qudoss Group

“Healy Consultants is the best firm that we have ever worked with. Through our entire business relationship we were satisfied with provided level of quality and services. Healy Consultants have been responsive and detail oriented which has allowed us to stay focused on our business and not getting distracted with small details.”

“Not only did Healy Consultants have expert knowledge of local requirements, they also understood my needs as a foreigner, which is something lacking with the Singaporean consulting firms I spoke to. They drove the process from start to completion. I’m more than satisfied with the service.”